JERSEY CITY – The first of as many as 15 new residential developments slated for the Journal Square area held a ribbon cutting on August 6. Kennedy Lofts, three minute walk to Journal Square bus and PATH station, is the first luxury rentals in the area, converting a building formerly used by Hudson County, into one and two bedroom luxury units. The $10 million conversion project on the building located at 100 Newkirk Street sets the stage for future development. Mayor Steven Fulop said there are currently about 15 projects at various stages of development planned for the Journal Square area.